Credit lines from your bank

[ficonightmare]

I have a theory with credit and banks. My hubby has a Citi checking/savings, direct deposit, and some other money invested with them. He also has the Citi Dividend card with a 26K limit. It's our highest credit line.

The same thing happened with my parents and Chase. Their Chase card has a 32.5K credit line (but it's a signature card and doesn't report). All their banking is done through Chase and they've been clients for years.

I on the other hand am also a Chase customer. Have a checking/savings and direct deposit. However, I was only working part time up until about a year ago. My salary is not huge and I've never even received an offer for any of their cards.

So I'm thinking if you do your banking with a particular bank,and they can verify income along with good FICO scores, they'll give you very high credit lines.

I'm wondering if anyone else has had the same experience?

[Anonymous]

My highest line is only $7500, but it is with PNC, which is my bank.  Not sure if there is a connection though.

[DI]

Many people probably avoid having a checking and savings acount with the same bank they carry a credit card with.  What if one loses their job and cannot pay the credit card bill.  That may open up the possibility for that bank to take their funds from those accounts. 

[shiftomnimega]

I do not have any credit through anyone I bank with (unless you count AMEX who I have an online savings account with).  It's due to the crappy rewards cards that NFCU and USAA have.

I have a Penfed card, but I only keep $5 in the account.

[Anonymous]

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@DI wrote:

Many people probably avoid having a checking and savings acount with the same bank they carry a credit card with.  What if one loses their job and cannot pay the credit card bill.  That may open up the possibility for that bank to take their funds from those accounts. 

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Pretty sure that would require a court order unless there is something in the card agreement stating that, which I have never seen.

[ficonightmare]

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@DI wrote:

Many people probably avoid having a checking and savings acount with the same bank they carry a credit card with.  What if one loses their job and cannot pay the credit card bill.  That may open up the possibility for that bank to take their funds from those accounts. 

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True. But if the debt is high enough, they can get a judgement against you and freeze  accounts you have with any bank.

[Anonymous]

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@ficonightmare wrote:

So I'm thinking if you do your banking with a particular bank,and they can verify income along with good FICO scores, they'll give you very high credit lines.

I'm wondering if anyone else has had the same experience?

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if they were doing business anyway else I would be mortified. 

I think any bank would be stupid to not at least favor cutomers that have an existing banking relationship ie: multiple products, when extending/authorizing credit.

back in the 1980s my bank made the mistake of sending a check through twice and causing me many bounced check fees. There was issues getting it straightened out. My mother, when she heard, went to the bank with me. I talked to the manager, then she talked to the manager. i was like 19.  I left the office at my moms request.

10 minutes later i was asked to come back in and was told all monies would be credited back and the bank would be happy to write and send letters on my behalf to anyone who had tried to cash a check I had written and it bounced.  Their entire atitude with me had changed.

In the car on the way home I was like what happened? She was calm, We have $800,000 in accounts between me, your grandmother, grandfather and our personal accounts and it would be gone by Friday if they did not solve this today. 

[Anonymous]

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@Anonymous wrote:

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@DI wrote:

Many people probably avoid having a checking and savings acount with the same bank they carry a credit card with.  What if one loses their job and cannot pay the credit card bill.  That may open up the possibility for that bank to take their funds from those accounts. 

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Pretty sure that would require a court order unless there is something in the card agreement stating that, which I have never seen.

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Nope- many banks have that verbiage in the loan and banking documents. believe me.

They get their money, and would cause you to bounce many checks in the process of pulling what they did from your checking account.

[ficonightmare]

You are correct usmc, but I've read here that people get very high CL's and I was wondering if they're a customer or not.

I've also just read that CITI denied someone an increase stating, "you have enough credit already" when their total credit between 5 cards was somethng like 18K. 

If that's not the case, and they're favoring their customers with a history, why can't banks just be honest and say "you don't bank with us, so we won't give you more credit".

[DI]

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@ficonightmare wrote:

You are correct usmc, but I've read here that people get very high CL's and I was wondering if they're a customer or not.

I've also just read that CITI denied someone an increase stating, "you have enough credit already" when their total credit between 5 cards was somethng like 18K. 

If that's not the case, and they're favoring their customers with a history, why can't banks just be honest and say "you don't bank with us, so we won't give you more credit".

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That would violate the equal credit opportunity act  if they outright say that.